We've held onto the Sasol short and extended the take profit. Purely based on the bigger picture on a weekly chart. There's an even larger Inv Cup and Handle. Price has broken below the Brim level and entered into a Down regression channel. By the looks of it, the price will tank down to R83,96. The nature of the trade is HIGH probability as the Price<20...
Rising Flag formed on Sasol, the price broke below and beautifully it went down on a strong trajectory and declination. The price remained below the 200MA confirming the bear market for the company. The price came down in a strong fashion takeing it to the first target of R184.52. The oil price also coincided with the Sasol price having the downtrend dominate...
W Formation is forming on Sasol. We are seeing the downtrend slow down in momentum, and it looks like the price wants to break up and out of the down trend. This is a bit premature for a breakout trader, but it's still good to watch and prepare for. We have other indicators that still show downside (but potentially changing trend) 200<21<7 - Bearish RSI <50...
Inv Cup and Handle formed on Sasol and we knew once there was a break below the brim level, downside was to be followed The other indicators via peripheral also confirmed it as 200 > 21> 7 RSI<50 (Lower highs) Target hit was R221.40 Now the trend is still down, there aren't many strong levels of support (liquidity). So this means, we are still looking for...
Inverse Cup and Handle has formed on Sasol. It's a rare Chart Pattern where an Inverse Head and Shoulders never formed the right shoulder This means, the momentum to upside is strong and the price does not want to retrace back. 7>21 - Bullish RSI >50 Bullish Target R365.50 GENERAL INFO Sasol (founded in 1950 in JHB) is a large South African multinational...
Bear Rectangle is forming on Sasol as it previous did a few months ago. There are bearish signals as the downtrend is continuing. The 200 > 21 >7 MA which once the price breaks below R277.95 we will have our next target at R225.43. This confirms with the ongoing drop in oil price...
Sasol may see price moving lower to pre COVID19 levels R160 may be on the cards
a strong bullish move might be at play on sasol coz of the higher oil prices
sasol an incredible bounce back from the march 23 low of 2020 we might see sasol coming and going as high as its all time high
sasol bullish flag at play a move higher if fundamentals align we might see a big move on this one
JSE:SOL Testing gap from 9 March and making flat top triangle in process. Wait for break higher and potential gap close.
JSE:SOL Breaking sideways consolidation after very strong day yesterday and strong open today. First target is around 38000 above that gap close. Ideally one should wait for pullback but not sure if it will happen.
JSE:SOL Consolidating in flat bottom triangle. Break bellow will bring more downside.
JSE:SOL Looks like starting to roll over on hourly. Still stuck in symmetrical triangle on daily
Sasol fell sharply when news surfaced of further overspending at its Lake Charles facility in Louisiana. But, with oil on the rebound, it might be a good time to buy the stock at these new lows. As you can see from the above chart, there is a big gap between price on 21 May 2019 and 22 May 2019. In technical circles, there is a common saying: The price always...